Jun, Ben and Dindo are partners sharing profits equally. On January 1, 2015 the capital...
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Accounting
Jun, Ben and Dindo are partners sharing profits equally. On January 1, 2015 the capital and drawings of the partners are: Capitals Drawings Jun 60,000 36,000 Ben 48,000 24,000 Dindo 180,000 12,000 Due to the failure of the firms debtors to settle their accounts, the partners lose heavily and are therefore compelled to liquidate. After exhausting all the partnership assets, including those arising from the operating profit of 41,400 in 2015, there still remain 50,400 liabilities on December 31, 2015, Jun has no personal assets but the others are as well off. (1) The loss on realization and (2) In the settlement to partners, how much would Dindo receive?
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